Once participation in the plan commences, the election to participate is irrevocable and the term of participation may not be extended. Only one period of participation is permitted. Final average compensation and election of option, if any, are fixed upon commencement of participation and may not be changed after entering the Deferred Retirement Option Plan.
La. R.S. 11:451
Irrevocability of election
Known as the Early Retirement and Payroll Reduction Act
The act spans §§ 11–11 (622 sections).
Acts 1990, No. 14, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.